Europe Roundup: Euro's advance slows as risk sentiment falters, European shares slip,Gold retreats more than 1%, Oil prices slide as virus surge weighs on demand outlook-July 30th,2020
Europe Roundup: Sterling rises to five-month high against dollar as BoE signals sub-zero rates not imminent, European shares dip, Gold flirts with record peak, Oil prices pull back from five-month highs as rising product stocks weigh-August 6th,2020
America’s Roundup: Dollar steadies from 2-year lows, Wall Street closes lower, Gold retreats from record peak,Oil falls as U.S. stimulus package faces tough talks-July 29th,2020
Asia Roundup: Sterling at 5-month peak as BoE stands pat, dollar eases as investors fret over U.S. recovery, Asian shares subdued - Thursday, August 6th, 2020
Europe Roundup : Euro little changed as investors await Fed meeting, European share flat, Gold eases, Oil prices jump on U.S. inventory drop-July 29th,2020
America’s Roundup: Dollar climbs after US jobs data, U.S. stocks gains,Gold eases, Oil slips below $45/bbl on demand concerns but posts weekly rise-August 08,2020
America’s Roundup: Dollar holds near 1-week high, European stocks maon, Gold loses ground, Oil settles higher on Chinese factory data, U.S. stimulus hopes-August 11th,2020
Asia Roundup: Dollar slumps across the board on abysmal U.S. economic data, Asian shares plunge, investors eye EZ CPI - Friday, July 31st, 2020
Europe Roundup: Sterling heads lower after early gains, European shares dips,Gold edges back from record peak, Oil falls as rising virus cases overshadow demand recovery-August 4th,2020
America’s Roundup: Dollar retreats on stimulus talks, Wall Street ends higher, Gold gains, Oil edges up to highest since March on hopes for U.S. stimulus-August 5th,2020
Europe Roundup: Sterling rises ahead of UK data,, European shares gain, Gold eases, Oil prices back on the rise on U.S. stimulus hopes, Iraq output cut-August 10th,2020
Europe Roundup: Euro retreats from two-year high ahead of Fed meeting, European shares slides,Gold dips, Oil steady as U.S. stimulus hopes countered by demand concerns-July 28th,2020
America’s Roundup: Dollar gains on upbeat manufacturing data,Wall Street jumps, Gold pulls back from record high, Oil rises more than 1% on hopes for economic recovery-August 4th,2020
America’s Roundup: Dollar heads for steepest monthly drop in decade, Wall Street gains, Gold rises, Oil posts monthly gains as U.S. reports record output cuts in May-August 1st,2020
Asia Roundup: Aussie steadies as RBA keeps policy steady, dollar gains against yen as investors await U.S. stimulus deal, Asian shares surge - Tuesday, August 4th, 2020
Europe Roundup: Euro set for best month in a decade, European shares rebound ,Gold heads for best monthly gain since January 2012, Oil on track for monthly gain as dollar weakness supports-July 31st,2020
Asia Roundup: Aussie at 1-week peak on Trump's assurance over U.S.-China trade pact, dollar gains as traders speculate pandemic recovery, Asian shares rebound - Tuesday, June 23rd, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged after U.S. President Donald Trump stated that the Phase 1 trade deal struck with China in January was fully intact, quelling market concerns that Washington may be dumping the agreement. The greenback against a basket of currencies traded 0.1 percent up at 97.10, having touched a high of 97.74 on Monday, its highest since June 2.
EUR/USD: The euro rose to a near 1-week peak, as data released earlier showed Eurozone consumer confidence rose more than expected in June, as governments gradually eased lockdown restrictions imposed in March against the COVID-19 pandemic. The European currency traded 0.05 percent up at 1.1264, having touched a low of 1.1168 on Friday, its lowest since June 3. Investors’ attention will remain on a series of data from Eurozone economies, EZ Markit manufacturing and service PMI, ahead of U.S. new home sales, Richmond Fed Manufacturing Index, Markit manufacturing and service PMI. Immediate resistance is located at 1.1319, a break above targets 1.1353. On the downside, support is seen at 1.1202 (21-DMA), a break below could drag it below 1.1168.
USD/JPY: The dollar surged to a near 1-week high as investors focused on the prospect for an eventual economic recovery from the coronavirus pandemic. Recent strong economic data boosted hopes the economy will bounce back quickly from business shutdowns to halt the spread of the virus. The major was trading 0.2 percent up at 107.12, having hit a low of 106.66 on Thursday, its lowest since June 12. Investors’ will continue to track the broad-based market sentiment, ahead of U.S. new home sales, Richmond Fed Manufacturing Index, Markit manufacturing and service PMI. Immediate resistance is located at 107.33, a break above targets 107.64. On the downside, support is seen at 106.57, a break below could take it near at 105.99.
GBP/USD: Sterling nudged lower, reversing some of its previous session gains amid growing concerns over a Brexit trade deal. Britain has until the end of the year to sign a new trade agreement with the European Union, when the transition period following its exit from the bloc comes to an end. The major traded 0.2 percent down at 1.2448, having hit a low of 1.2335 on Monday, it’s lowest since June 1. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2557 (10-DMA), a break above could take it near 1.2588. On the downside, support is seen at 1.2401, a break below targets 1.2348. Against the euro, the pound was trading 0.2 percent down at 90.41 pence, having hit a low of 90.72 on Friday, it’s highest since March 27.
AUD/USD: The Australian dollar rallied to a 1-week peak after White House trade adviser Peter Navarro said his comments that the trade deal with China was over were taken out of context. The Aussie trades 0.05 percent up at 0.6915, having hit a high of 0.6935 earlier, it’s highest since June 16. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6965, a break above could take it near 0.7012. On the downside, support is seen at 0.6839 (21-DMA) a break below targets 0.6799.
Asian shares surged after U.S. President Donald Trump provided assurance that the U.S.-China trade pact was fully intact.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.6 percent.
Tokyo's Nikkei gained 0.5 percent to 22,548.86 points, Australia's S&P/ASX 200 index surged 0.2 percent to 5,954.40 points. South Korea's KOSPI rallied 0.3 percent to 2,132.57 points.
Shanghai composite index rose 0.05 percent to 2,966.72 points, while CSI 300 index traded 0.2 percent up at 4,111.48 points.
Hong Kong’s Hang Seng traded 0.9 percent higher at 24,728.12 points. Taiwan shares added 0.3 percent to 11,612.36 points.
Crude oil prices steadied, amid more signs of fuel demand picking up after the depths of the coronavirus pandemic as major crude producers continue to stick to supply cuts. International benchmark Brent crude was trading 0.1 percent higher at $43.03 per barrel by 0526 GMT, having hit a high of $43.24 earlier, its highest since June 8. U.S. West Texas Intermediate was trading 0.05 percent up at $40.58 a barrel, after rising as high as $41.21 earlier, its highest since March 9.
Gold prices nudged up after recording a more than 1-month high in the previous session, as coronavirus cases around the world surged and nervous investors sought the safety of safe-haven assets. Spot gold was trading 0.05 percent up to $1,755.00 per ounce by 0530 GMT, having touched a high of $1,763.30 on Monday, its highest since May 18. U.S. gold futures edged 0.2 percent higher to $1,770.10 per ounce.
On Monday, the benchmark U.S. 10-year yield was up 1.1 basis points at 0.7102 percent, the 2-year U.S. Treasury yield was up less than a basis point at 0.1957 percent.